By Mehul Shah, Sanket Shah, Aman Yagnik
The Chennai Bench of the National Company Law Tribunal (NCLT) has recently approved the merger of a Limited Liability Partnership (LLP) with a private limited company (Scheme). This newsflash analyses key aspects of the NCLT order permitting the aforesaid merger.
Under a joint company petition filed before the Chennai Bench of the NCLT (NCLT Chennai Bench), Real Image LLP (Transferor LLP) comprising its entire business, including all assets and liabilities, all rights, title and interest in the immovable properties, was proposed to be merged with Qube Cinema Technologies Private Limited (Transferee Company) on a going concern basis. The Transferor LLP was incorporated under the provisions of the Limited Liability Partnership Act, 2008 (LLP Act) and the Transferee Company, under the provisions of the Companies Act, 2013 (2013 Act).